QUESTION 3 (20 MARKS: 20 MINUTES) Asian Tech Co. is a telecommunication company. Below are transactions regarding property acquisition for the company for the year 2019. CONFIDENTIAL 202004/ACC111/A REQUIRED: A) 1. Compute the cost for the machine, land, building and land improvement. (12.5 Marks) 2. Prepare journal entries to record the acquisition of a new van and the disposal of the old van (4 Marks) B) Seroja Co. bought two pieces of land in Cyberjaya. One of the land will be used as a site of the company's new headquarter. Another piece of the land is being purchased with a hope that it will be sold in the near future when the price of the land arises by 30% from its cost. How should these two pieces of land be reported in the statement of financial position